Northern Light Eastern Maine Medical Center has named a new president.
Ava Collins, who formerly served as Northern Light’s vice president of Oncology Service and acted as the hospital’s interim president since October 2024, will take over as president of the hospital. It was not immediately clear from a statement issued by the hospital on Wednesday evening when Collins would take over the position.
Gregory LaFrancois stepped down from the role of president effective immediately on Oct. 16, 2024.
Collins will take the helm of Northern Light as it struggles to raise its plummeting credit rating. The health care system’s credit rating from S&P Global is now BB-, which is a drop of three grades from October, a global rating firm said in early February.
The credit downgrade means Northern Light will likely struggle to find lending, let alone lending with favorable terms. That struggle can mean less money coming into the system, which could lead to longer wait times and reduced services for patients, University of Maine finance professor Pankaj Agrrawal told the Bangor Daily News.
Along with the credit rating declines, the health care organization has seen multiple top executives depart in the past year and has ended some services, including labor and delivery at its Waterville hospital.
“As I step into the role of president at Northern Light Eastern Maine Medical Center, I am truly excited for what the future holds. I am eager to continue leading our talented teams, building upon the strong foundation that has been established and forging new paths that will enable us to better serve our community” Collins said in the Wednesday statement.
“With a shared commitment to excellence, I am confident that we will continue to make a positive impact and ensure that our patients receive the highest quality care.”
Collins will continue to serve as a senior vice president for Northern Light Health during her tenure as president of Northern Light Eastern Maine Medical Center.
BDN reporter Marie Weidmayer contributed to this story.